Social security

[Happy Camper]

If everyone wants the government to keep spending more money, but it has to come from somewhere.

Our national debt is amazingly high. And the Interest payments we make monthly on that debt are astounding.

We can't keep spending without saving somewhere. Can you actually get politicians to stop spending?

 

[txmnjim]

^^if they (both parties) quit cutting taxes on the rich and funding the military so obscenely well we wouldn't be in a deficit!

 

[wanderlust]

I remember how the big problem before 2000 elections (when Clinton and dot com boom made deficit decreasing) was the projections that USA will pay down all debt in about 10 years and there will be no treasury bonds for investors to invest safely, so to avoid that disaster, and using it's infinite wisdom, congress cut taxes. Yes, THAT problem was solved, we will have bonds for foreseeable future
/s

 

[quilting22]

Oops. He said it on Monday. Not yesterday.

Edit: Oh geez, my days are all mixed up. Yesterday WAS Monday. Duh.

I've been a day ahead all week. Glad lm not the only one.

 

[SLB_SA]

If everyone wants the government to keep spending more money, but it has to come from somewhere.

Our national debt is amazingly high. And the Interest payments we make monthly on that debt are astounding.

We can't keep spending without saving somewhere. Can you actually get politicians to stop spending?

Who owns that federal debt and receives those interest payments? "If you were to add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for retirement. Current and future retirees would be hurt the most if the U.S. ever defaulted on its debt." Who Owns the US National Debt? If I read the previous link correctly, about $7,400,000,000,000 ($7.4T) is held by "Foreign and international investors" and the rest, about $17,000,000,000,000 ($17T), has domestic ownership. To answer the initial question, it is largely us (US citizens and residents) who get that interest money. The federal government is paying us.

 

[SLB_SA]

I just saw As Republicans propose to raise the Social Security retirement age, here’s how benefits may change and noticed this "The plan also calls for reducing full retirement age benefits for high-income earners, while also limiting and phasing out “auxiliary benefits” for those beneficiaries’ spouses and dependents. The budget did not specify the income thresholds to which those changes would apply." I had heard of increasing the full retirement age and means testing benefits ("reducing full retirement age benefits for high-income earners") but spousal and dependent benefit cuts seem new to me. While I am not married, I wonder if there are nomad couples out there who depend on spousal SS benefits to supplement basic SS benefits. There might be cases where dependent SS benefits are important to a nomad family.

 

[LargeMarge]

...debt...debt... debt...debt... Debt

.
I have zero debt.
I owe nothing to nobody.
Prove otherwise.

 

[bullfrog !]

Guess you popped out into the world totally self sufficient? Lol!!! Everybody has debts!

 

[Happy Camper]

Guess you popped out into the world totally self sufficient? Lol!!! Everybody has debts!

If I have no financial debt, I have no debt.

Those that have helped me I have helped as well. I don't look at things as if I'm in someone's debt, it they are in mine. There is no transactional balance sheet I keep marked in red and black.

I have done my best for family and friends. And they have done the same towards me. No debt involved.

It's a lovely feeling when you can achieve it. I have for periods of time and can attest to it.

 

[VanFan]

So... Do you know why The Art of the Deal is so thick?

Answer: It has four Chapter 11's!

(That is all.)

 

[bullfrog !]

If I have no financial debt, I have no debt.

Those that have helped me I have helped as well. I don't look at things as if I'm in someone's debt, it they are in mine. There is no transactional balance sheet I keep marked in red and black.

I have done my best for family and friends. And they have done the same towards me. No debt involved.

It's a lovely feeling when you can achieve it. I have for periods of time and can attest to it.

Everyone living in this country has debts which can never be repaid, we can only protect the things that those we owe valued. Hope no one ever forgets that.

 

[Happy Camper]

I didn't mean in a patriotic sense. I would agree with that.

 

[SLB_SA]

Are Republicans trying to END Social Security as we know it? END Spousal Benefits? Means-testing?
Dr. Ed Weir, PhD, Former SSA Manager, will host a Q&A and discussion/debate on the recent Republican Study Committee proposals on the future of Social Security. Spousal benefits, raising the retirement age, means-testing? What's your opinion? Join us for a discussion/debate!Please add your thought/opinions: Should the retirement age be raised? Should spousal benefits disappear for high-wage earners? Should all benefits be means tested?

 

[SLB_SA]

Listening to Dr. Weir's discussion in the link above, I learned that one Republican Study Committee proposal is to change the metric used to determine COLA adjustments and reduce the amount of COLAs each year. So (i) increase full retirement age (ii) reduce/eliminate spousal & dependents benefits (iii) reduce COLA increases (iv) mean test benefits (v) Who knows?

 

[bullfrog !]

Seems hard to believe there are enough wealthy to elect people that wish to get rid of or reduce Social Security with all the additional problems, pain and suffering doing so would cause.

 

[SLB_SA]

Reducing annual COLA increases and (potentially) means testing would be cuts (compared with benefits under current law) for current SS beneficiaries. "Everyone" says that current SS beneficiaries would not see benefit cuts but this might not be true; reducing COLAs affect current beneficiaries!! [begin sarcasm]Imagine if the COLA for 2023 was 2% and for 2024 was 0% because your food, utilities, vehicle repairs, etc. would automatically have been reduced by the corresponding amount.[end sarcasm] The sudden taxation of SS benefits in 1984 was a benefit cut for beneficiaries at that time; Thanks Reagan!!

 

[WanderingRose]

one Republican Study Committee proposal

A proposal, of which it is important to be aware, does not a change or cut make.

 

[SLB_SA]

A fun read 'Out-of-Touch Billionaire' Larry Fink Blasted for Calling 65 a 'Crazy' Retirement Age

 

[wanderlust]

Seems hard to believe there are enough wealthy to elect people that wish to get rid of or reduce Social Security with all the additional problems, pain and suffering doing so would cause.

that's why it will be packaged with voting on other divisive issues. So people will vote against their economic interests for ideological reasons

 

[txmnjim]

Are Republicans trying to END Social Security as we know it? END Spousal Benefits? Means-testing?
Dr. Ed Weir, PhD, Former SSA Manager, will host a Q&A and discussion/debate on the recent Republican Study Committee proposals on the future of Social Security. Spousal benefits, raising the retirement age, means-testing? What's your opinion? Join us for a discussion/debate!Please add your thought/opinions: Should the retirement age be raised? Should spousal benefits disappear for high-wage earners? Should all benefits be means tested?

i would like to hear this as well as i just read that GOP plan to cut $1.5 trillion from the budget and raise age of retirement to 69! Seemingly all so they can cut taxes on the wealthy again